AIG

[InsuranceGuru]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

I think one thing is clear. Insurance conglomerates should be held to a higher, long-term risk selection when it comes to investing. AIG's allowing their trading companies to unequivocally bring the U.S. economy to its knees is proof enough that such regulation is necessary.

 

[moonlightandmargaritas]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

I think McCain is the only one to express his outrage that this situation has got to stop!

Where was his "outrage" over the last twenty-six years that he has been a member of Congress?

Biden too..what thirty-six years in the Senate?

Throw the bums out.

 

[Mr. Bill]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

I'll second that motion!

John Galt

 

[dgoldenz]

Clients with UL products should probably be switched to another carrier if they can still qualify for a good rate. What's an incredibly easy way to raise money for the carrier? Raise the COI's....

 

[somarco]

I doubt you will see the COI increase. More likely the interest credited will decrease, while admin fees increase.

 

[dgoldenz]

I doubt you will see the COI increase. More likely the interest credited will decrease, while admin fees increase.

Same effect, which would only get worse if they raised COI's and lowered interest rates. Either way, we're trying to move AIG UL's.

 

[bill3173]

Same effect, which would only get worse if they raised COI's and lowered interest rates. Either way, we're trying to move AIG UL's.

There's a contractual guarantee on minimum interest, premium, and age, so what difference does it make to the customer? Are you talking about non-guaranteed products?

 

[Franz Kafka]

There's a contractual guarantee on minimum interest, premium, and age, so what difference does it make to the customer? Are you talking about non-guaranteed products?

The fact that those are guaranteed to lapse before the mortality may make a difference (?)

 

[bill3173]

The fact that those are guaranteed to lapse before the mortality may make a difference (?)

The continUL extend and certain others, depending on your state, are guaranteed to age 100 and beyond, these are on the life brokerage side of the biz.

AGLA's ULs do not have the no lapse guarantee feature, or didn't, if that's what you're referring to, but most of their agents are captive, but they do offer a special agent contract for non captives.

 

[retread]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

Where was his "outrage" over the last twenty-six years that he has been a member of Congress?

Biden too..what thirty-six years in the Senate?

Throw the bums out.

To replace them with who?

I'm an independent, having been both a Democrat and a Republican at various times in my life. I detest a lot of the practices of both parties, but am beginning to lean towards the Republican candidates recently.

I say this as a prelude to the following statement about McCain, because I want everyone to know that I am not pushing a GOP agenda. In defense of McCain's past: He has had to work with a bunch of turkeys both in his own party as well as the opposition. He was ostracized by his own and limited in what he could accomplish without full party support. Now he carries a big hammer. Now he can speak more boldly, because he is gaining control over the GOP. Whether he succeeds or not is up for debate. I do believe he is serious about reforming politics, especially the politics as usual that has been the de rigueur of the inner beltway in D.C.

Obama, on the other hand, calls for "change". Of course he does... he wants to be the "change", just as his opponent does. This is always every politician's rant wanting to replace an incumbent. Problem is... Bush is going out regardless of what Obama does, so Obama is left to rant against the GOP. His biggest effort is muted by his opponent joining in the rant against the GOP! Poor guy!

Looks to me like the issue is reform, not change, and McCain is my choice, at this point, to effect this. Obama is too much of a Democrat, the ones who push entitlements to the detriment of our nation's economy. You can't have your cake and eat it, too. You can't lower taxes and increase benefits at the same time. Even our customers realize a carrier can't increase benefits without increasing premiums. I wouldn't vote for any other GOP candidate for the same reason I won't vote for Obama... those entrenched politicians (both Dems & GOP) that have no outlook for America's future will only increase the national debt for the immediate desire to fatten their own pockets now.

What happened to AIG is liable to happen to America if reform isn't enabled ASAP. I believe McCain is more likely to fill this role. I hope he will "throw the bums out"!